Proceedings.

Huldra Silver Inc.

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Proceeding
CCAACompanies' Creditors Arrangement Act, R.S.C. 1985 c. C-36 as amended
Court
Supreme Court of British Columbia
File
S-135663
Industry
Mining · Gold, diamonds & precious metals
Filings held59
Last activity7 Dec 2015
On the record4,850 days
Secured debtSubscribers
OverviewSummary updated

Huldra Silver Inc., together with Huldra Properties Inc., Huldra Holdings Inc. and 0913103 B.C. Ltd., filed for protection under the Companies' Creditors Arrangement Act on July 26, 2013, in the Supreme Court of British Columbia, court file no. S-135663, with Grant Thornton Limited as monitor. The listing of creditors names Waterton Global Value, L.P. as a secured creditor of Huldra Silver Inc. for $7,895,248.12, and reports approximately 50 debentureholders owed $10,003,800.00 in aggregate. Worker's Compensation Board, the Canada Revenue Agency, the Attorney General of Canada and the Crown in Right of British Columbia are each listed with amounts owing as unknown. Unsecured trade payables total $1,445,635.92 for Huldra Silver Inc. and $1,372,606.11 for 0913103 B.C. Ltd.

Claims processIf you are owed money

A claims procedure has been established — see the order for deadlines.

Per the Court Order – Claims Process Order – February 24, 2014 dated 24 February 2014.

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Case updates59 dated entries
#Report

The officer filed report no. Eighth Report. The report provides an update on property tax arrears, noting a payment of $255,750.19 to the Minister of Finance and ongoing negotiations with Management to repay the remainder; the Monitor states the Petitioners continue to act in good faith with no significant new issues identified.

Source: Monitor's Eighth Report - February 24, 2015

#Report

The officer filed report no. Seventh Report. The CCAA plan was implemented on November 21, 2014; the Petitioners paid $25,407.72 in cash to electing unsecured creditors, repaid the $2.5 million DIP Loan to Waterton, and issued settlement shares to secured and unsecured creditors. Outstanding property taxes of about $496,588 (excluded from the Plan) remain payable.

Source: Monitor’s Seventh Report – January 29, 2015

#Report

The officer filed report no. Fourth Report. The Companies are keeping the Treasure Mountain Mine and the Mill on care and maintenance, funded by DIP advances from Waterton. Management is marketing the assets individually or en bloc and working toward a Plan of Arrangement, and is seeking a stay extension to October 1, 2014.

Source: Monitor’s Fourth Report – May 16, 2014

#Report

The officer filed report no. Third Report. The Petitioners have the Treasure Mountain Mine and the Mill on care and maintenance, funded by DIP lender Waterton, while Management concludes the mine is not viable as an operating asset and plans to market the four main assets individually, targeting a transaction in March or April 2014.

Source: Monitor's Third Report - November 22, 2013

#Report

The officer filed report no. Second Report. The Treasure Mountain Mine and the Mill are on care and maintenance because the DIP lender, Waterton, declined to fund the second tranche. The Companies are working with Haywood to find financing or asset buyers so they can put a Plan to creditors.

Source: Monitor’s Second Report – October 16, 2013

#Report

The officer filed report no. First Report. The Mill and Treasure Mountain Mine have been on Care and Maintenance since June 26, 2013; Management targets recommencing operations in late October or mid-November 2013, dependent on further DIP funding from Waterton, and is working toward a Plan with strategic advisor Haywood.

Source: Monitor’s First Report – August 22, 2013

#Order

The court granted an initial order under the Companies' Creditors Arrangement Act for Huldra Silver Inc. and related applicants, appointing Grant Thornton Limited as monitor, on July 26, 2013.

Source: Initial Order - July 26, 2013

Parties

Debtor

Huldra Silver Inc.

Monitor

Doane Grant Thornton

Bench and counselPer the orders and service lists on the record

Bench

JudgeCourtOn this docketCases on record
Justice BowdenSupreme Court of British Columbia1 order, Oct 20145 cases on record

Counsel of record

PartyCounselFirst seenSource
MonitorDoane Grant ThorntonLawson Lundell LLP30 Apr 2014Application · 30 Apr 2014
ApplicantHuldra Silver IncClark Wilson LLP30 Apr 2014Application · 30 Apr 2014
Interim lenderWaterton Global Value, L.PHeenan Blaikie LLP22 Aug 2013Application · 22 Aug 2013
CreditorBorrower, Huldra Holdings, Huldra PropertiesClark Wilson LLP22 Aug 2013Affidavit · 22 Aug 2013
CreditorCRMC Canadian Royal Mining CorpErt Hunter Litigation Chambers Law Corporation30 Apr 2014Application · 30 Apr 2014
CreditorWaterton Global Value LPBorden Ladner Gervais LLP30 Apr 2014Application · 30 Apr 2014
Capital structureAs asserted in the filings
stated amounts, drawn to scale · for subscribers
#Priority classCreditorAmountSource
4SecuredWaterton Global Value, L.P. · in 2 casesdebtor: Huldra Silver Inc. · as of 26 Jul 2013$7.9MComplete Creditor Listing - July 31, 2013
4Secured
4Secured
4Secured
4Secured
7Preferred (BIA s. 136)
8Unsecured
8Unsecured
8Unsecured
8Unsecured

79 more claims in 3 classes The stack holds Secured, Preferred (BIA s. 136) and Unsecured claims.

Every creditor and every amount, drawn to scale.

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RecoveriesAs stated in the filings

Crown deemed trusts: paid in full.Under the plan · implementedMonitor’s Fifth Report – August 6, 2014 · 6 Aug 2014

ClassCreditorClaimsRecoveryBasisSource
Deemed trustExcluded Creditors - Crown Claims—paid in fullUnder the planimplementedper the monitorMonitor’s Fifth Report – August 6, 2014 · 6 Aug 2014
Deemed trustHer Majesty the Queen in right of the Province of British Columbia—paid in fullUnder the planimplementedper the monitorMonitor’s Fifth Report – August 6, 2014 · 6 Aug 2014
Secured——conditionalper the monitorMonitor’s Fifth Report – August 6, 2014 · 6 Aug 2014
Preferred——paid in fullUnder the planimplementedper the monitorMonitor’s Fifth Report – August 6, 2014 · 6 Aug 2014
Equity——no distributionUnder the planimplementedper the monitorMonitor’s Fifth Report – August 6, 2014 · 6 Aug 2014
class not placedCrownHer Majesty the Queen in right of the Province of British Columbia—paid in fullUnder the planper the monitorMonitor's Sixth Report - September 26, 2014 · 26 Sep 2014

Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.

1 blurred figure above

The claims and what each class or creditor recovers — each as the filing states it, with its source.

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Estate financialsReported figures — never derived
Total assets at filing
Total liabilities at filing

As at ·

Cumulative receipts

$2.59M

As at 22 Nov 2013Monitor's Third Report - November 22, 2013

Cumulative disbursements

As at

Cash on hand

As at

Professional fees

As at

3 more reported figures, and the 2 totals the debtor stated at filing

Each one as the filing states it, with its source.

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Documents
59 filings
DateDocumentFile
Monitor’s Final Certificate – December 7, 2015PDF · Subscribers
Service List - at July 13, 2015
  • Counsel Christopher J. Ramsay Clark Wilson LLP
PDF · Subscribers
Monitor's Eighth Report - February 24, 2015
  • Cash on hand · Disbursements · Financial position · Operational summary Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Monitor’s Seventh Report – January 29, 2015
  • Cash on hand · Disbursements · Financial position · Operational summary Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Monitor's Certificate of Plan Implementation - November 21, 2014PDF · Subscribers
Court Order – Sanction Order – October 10, 2014
  • Presiding officer Justice Bowden
PDF · Subscribers
Notice of Application – October 7, 2014PDF · Subscribers
Court Order – Consent Craigmont Mines – September 26, 2014PDF · Subscribers
Monitor's Sixth Report - September 26, 2014
  • Operational summary The report covers the claims process results, distribution of creditors' meeting materials, and the September 23, 2014 creditors' meeting at which both secured and unsecured creditor classes unanimously approved the Plan; the Monitor recommends the Court approve the Plan.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Application Response – September 23, 2014PDF · Subscribers
Huldra Silver Inc. Press Release – September 19, 2014PDF · Subscribers
Court Order - Asiatic Management Consultants Ltd. Proof of Claim - August 8, 2014PDF · Subscribers
Court Order – Meeting and Process Order – August 8, 2014PDF · Subscribers
Court Order – Stay Extended – August 8, 2014PDF · Subscribers
Creditor Proxy
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Meeting and Process Order – August 8, 2014PDF · Subscribers
Notice of Creditors Meeting
PDF · Subscribers
Plan of Compromise and ArrangementPDF · Subscribers
Secured Creditor Election FormPDF · Subscribers
Unsecured Creditor Election Form
  • Appointee Grant Thornton Limited
  • Appointee role Monitor
  • Statutory basis Companies' Creditors Arrangement Act
PDF · Subscribers
Monitor’s Fifth Report – August 6, 2014
  • Operational summary The Companies' Treasure Mountain Mine and Mill are on care and maintenance, funded by DIP advances from Waterton, while a Plan of Compromise and Arrangement is put to creditors; the Monitor reports spending in line with or below budget.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Notice of Application - August 5, 2014PDF · Subscribers
Court Order - July 24, 2014PDF · Subscribers
Notice of Application - July 22, 2014PDF · Subscribers
Affidavit No. 4 of Michelle Madrigga - July 21, 2014PDF · Subscribers
Affidavit No. 3 of Michelle Madrigga - July 9, 2014PDF · Subscribers
Affidavit No. 1 of Barrie Smythe - June 11, 2014PDF · Subscribers
Notice of Application - June 11, 2014PDF · Subscribers
Affidavit No. 1 of Richard Hermann - June 10, 2014PDF · Subscribers
Court Order - May 20, 2014PDF · Subscribers
Monitor’s Fourth Report – May 16, 2014
  • Operational summary The Companies are keeping the Treasure Mountain Mine and the Mill on care and maintenance, funded by DIP advances from Waterton. Management is marketing the assets individually or en bloc and working toward a Plan of Arrangement, and is seeking a stay extension to October 1, 2014.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Affidavit No. 2 of Peter Espig - May 14, 2014PDF · Subscribers
Notice of Application to Extend Stay by 4 months and Amend Claims Process Order – May 14, 2014PDF · Subscribers
Affidavit No. 1 of Johnny Jelic - April 30, 2014PDF · Subscribers
Notice of Application re KTS Capital Management AG – April 30, 2014
  • Counsel Ert Hunter Litigation Chambers Law Corporation
PDF · Subscribers
Affidavit No. 2 of Michelle Madrigga - April 25, 2014PDF · Subscribers
Affidavit No. 1 of Michelle Madrigga - April 23, 2014PDF · Subscribers
Court Order - April 23, 2014
  • Presiding officer Justice Davies
PDF · Subscribers
Notice of Appointment or Change of LawyerPDF · Subscribers
Notice of Change of Lawyer - March 31, 2014PDF · Subscribers
Notice to Creditors - March 4, 2014
PDF · Subscribers
Claims Package - March 3, 2014PDF · Subscribers
Creditor List - March 3, 2014
PDF · Subscribers
Court Order – Claims Process Order – February 24, 2014PDF · Subscribers
Notice of Application for Claims Process Order – February 20, 2014PDF · Subscribers
Court Order - Stay Extended - November 25, 2013PDF · Subscribers
Affidavit No. 1 of Peter Espig - November 22, 2013PDF · Subscribers
Monitor's Third Report - November 22, 2013
  • Operational summary The Petitioners have the Treasure Mountain Mine and the Mill on care and maintenance, funded by DIP lender Waterton, while Management concludes the mine is not viable as an operating asset and plans to market the four main assets individually, targeting a transaction in March or April 2014.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 3 more extracted facts
PDF · Subscribers
Notice of Application to Extend Stay by 6 Months - November 22, 2013PDF · Subscribers
Monitor’s Second Report – October 16, 2013
  • Operational summary The Treasure Mountain Mine and the Mill are on care and maintenance because the DIP lender, Waterton, declined to fund the second tranche. The Companies are working with Haywood to find financing or asset buyers so they can put a Plan to creditors.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Aug 23, 2013 Order Extending Stay to November 25, 2013
  • Counsel Heenan Blaikie LLP
PDF · Subscribers
Affidavit No. 2 of Garth Braun - August 22, 2013
  • Counsel Clark Wilson LLP
PDF · Subscribers
Monitor’s First Report – August 22, 2013
  • Operational summary The Mill and Treasure Mountain Mine have been on Care and Maintenance since June 26, 2013; Management targets recommencing operations in late October or mid-November 2013, dependent on further DIP funding from Waterton, and is working toward a Plan with strategic advisor Haywood.
  • Cash on hand · Disbursements · Financial position Subscribers
  • + 4 more extracted facts
PDF · Subscribers
Notice of Application to Extend Stay by 90 Days - August 22, 2013
  • Counsel William Skellya and Lisa Hiebert Heenan Blaikie LLP
PDF · Subscribers
Report on Cash Flow Statement – August 6, 2013PDF · Subscribers
Complete Creditor Listing - July 31, 2013
  • Financial position · Secured creditors · Unsecured creditors Subscribers
PDF · Subscribers
Affidavit No. 1 of Garth Braun - July 26, 2013PDF · Subscribers
Initial Order - July 26, 2013
  • Applicant Huldra Silver Inc., Huldra Properties Inc., Huldra Holdings Ltd., and 0913103 B.C. Ltd.
  • Appointee Grant Thornton Limited
  • Appointee role Monitor
  • Commencement date 26 July 2013
  • + 3 more extracted facts
PDF · Subscribers
Petition to the Court - July 26, 2013
  • Applicant Huldra Silver Inc., Huldra Properties Inc., Huldra Holdings Inc., and 0913103 B.C. Ltd.
  • Appointee Grant Thornton Limited
  • Appointee role monitor
  • Court IN THE SUPREME COURT OF BRITISH COLUMBIA
  • + 1 more extracted fact
PDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Huldra Silver Inc.” (CCAA), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/huldra-silver-inc

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Sources last checked · summary updated 6 September 2026 · Report a correction · Printed from proceedings.ca/case/huldra-silver-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.